Latest from GIFC

Tuesday, 23 June 2009

Gulf investors may set up Islamic bank ("participation bank") in Turkey

ISTANBUL - Investors from the Gulf state of Qatar and neighboring Syria may set up an Islamic bank in Turkey, according to a story in The Peninsula, an English-language daily published in Qatar.

A delegation of Qatari and Syrian investors, led by Sheikh Khalid bin Abdullah bin Thani Al Thani, visited Ankara recently to discuss plans to set up the Islamic bank, called a "participation bank" in Turkey, the newspaper reported over the weekend.

Discussions are at an initial stage for the proposal, the newspaper said, reporting that "Dr. Sheikh Khalid bin Abdullah bin Thani Al Thani was welcomed in Ankara by Tevfik Bilgin, chairman of the Turkish Banking Regulation and Supervision Agency."

According to the story, the possibility of involving prominent Qatari and Syrian investors with expertise and skills in Islamic banking in the proposed project was discussed at the meeting.

"It was mutually agreed upon to continue with follow-up meetings on setting up the proposed Islamic bank," The Peninsula wrote. "Bilgin assured Khalid of all possible cooperation and support for establishing a joint venture Islamic bank in Turkey."